Money & Banking

Budget boost to MSME, infra sector to improve bank credit: Syndicate Bank MD

Anil Urs Bengaluru | Updated on July 06, 2019

Mrutyunjay Mahapatra, MD and CEO, Syndicate Bank

“The boost for MSME, affordable housing and infrastructure sector are expected to generate the growth in the bank credit,” said Mrutyunjay Mahapatra, MD & CEO, Syndicate Bank reacting to the Union Budget.

“On the whole, the budget has been a positive one. The government has reaffirmed its trust on public sector banks as per the recapitalisation outlay,” he added

Talking about NBFC, he said “The NBFC liquidity problem is also addressed through the first loss guarantee on the pool buyouts by banks.”

Encouragement of Foreign Direct investment (FDI) and increasing the minimum public holding with wide spread digitalisation like an electronic trading platform, non-human tax dispute settlements and disincentivisation for cash transactions by business entities are progressive steps, he added.

Published on July 06, 2019

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